THE VALUE OF AGRICULTURAL ECONOMICS EXTENSION PROGRAMMING: AN APPLICATION OF CONTINGENT VALUATION
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We use the contingent valuation method to estimate participant willingness to pay for agricultural economics extension programming. The data, collected as part of standard evaluation forms for the Ohio State University's 2001 Agricultural Outlook and Policy program series, and subsequent analysis suggest participant benefits exceeded departmental costs of conducting the program (benefit-cost ratios of 1.07 under conservative assumptions and 1.74 under moderate assumptions). We also use the data to explore the revenue generation potential from alternative program pricing and discuss the potential for developing differentiated programs to reach distinct audience segments. Additional research necessary before implementing alternative pricing or program differentiation plans is also discussed.